J.W. Cole Advisors Inc. bought a new position in shares of Cullen/Frost Bankers, Inc. (NYSE:CFR – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,966 shares of the bank’s stock, valued at approximately $418,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. acquired a new position in Cullen/Frost Bankers in the fourth quarter valued at approximately $1,648,000. Edge Capital Group LLC raised its stake in shares of Cullen/Frost Bankers by 4.6% during the 4th quarter. Edge Capital Group LLC now owns 2,385 shares of the bank’s stock worth $319,000 after buying an additional 104 shares during the period. Simmons Bank raised its stake in shares of Cullen/Frost Bankers by 12.9% during the 1st quarter. Simmons Bank now owns 2,445 shares of the bank’s stock worth $258,000 after buying an additional 280 shares during the period. Ardevora Asset Management LLP raised its stake in shares of Cullen/Frost Bankers by 34.0% during the 1st quarter. Ardevora Asset Management LLP now owns 401,902 shares of the bank’s stock worth $42,336,000 after buying an additional 101,876 shares during the period. Finally, ETF Managers Group LLC raised its stake in shares of Cullen/Frost Bankers by 4.7% during the 4th quarter. ETF Managers Group LLC now owns 5,204 shares of the bank’s stock worth $696,000 after buying an additional 233 shares during the period. Institutional investors and hedge funds own 80.49% of the company’s stock.
Cullen/Frost Bankers Stock Down 0.9 %
Shares of NYSE:CFR opened at $106.26 on Monday. Cullen/Frost Bankers, Inc. has a 52-week low of $92.55 and a 52-week high of $160.60. The business has a fifty day moving average of $108.58 and a two-hundred day moving average of $113.25. The stock has a market cap of $6.81 billion, a P/E ratio of 9.96, a PEG ratio of 1.17 and a beta of 1.05. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.07.
Cullen/Frost Bankers Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a dividend yield of 3.46%. The ex-dividend date of this dividend is Wednesday, August 30th. This is a positive change from Cullen/Frost Bankers’s previous quarterly dividend of $0.87. Cullen/Frost Bankers’s dividend payout ratio is 32.61%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on CFR shares. Stephens reduced their target price on Cullen/Frost Bankers from $121.00 to $117.00 in a research note on Friday. Morgan Stanley reduced their target price on Cullen/Frost Bankers from $121.00 to $116.00 in a research note on Friday, July 7th. Truist Financial dropped their price target on Cullen/Frost Bankers from $114.00 to $113.00 in a research report on Thursday, June 29th. Royal Bank of Canada dropped their price target on Cullen/Frost Bankers from $127.00 to $122.00 in a research report on Friday. Finally, Wedbush dropped their price target on Cullen/Frost Bankers from $120.00 to $112.00 in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Cullen/Frost Bankers has an average rating of “Hold” and a consensus target price of $129.64.
Insider Activity
In other Cullen/Frost Bankers news, EVP Bobby Berman purchased 1,500 shares of the firm’s stock in a transaction dated Thursday, May 4th. The shares were acquired at an average price of $95.25 per share, with a total value of $142,875.00. Following the purchase, the executive vice president now directly owns 26,662 shares in the company, valued at approximately $2,539,555.50. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Chris Avery bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 10th. The stock was bought at an average cost of $95.75 per share, for a total transaction of $478,750.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $957,500. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bobby Berman bought 1,500 shares of the stock in a transaction that occurred on Thursday, May 4th. The shares were purchased at an average price of $95.25 per share, with a total value of $142,875.00. Following the completion of the acquisition, the executive vice president now directly owns 26,662 shares in the company, valued at $2,539,555.50. The disclosure for this purchase can be found here. Insiders have acquired a total of 8,501 shares of company stock valued at $819,054 in the last quarter. Insiders own 2.89% of the company’s stock.
Cullen/Frost Bankers Company Profile
Cullen/Frost Bankers, Inc operates as the bank holding company for Frost Bank that provides commercial and consumer banking services in Texas. It operates in two segments, Banking and Frost Wealth Advisors. The company offers commercial banking services to corporations and other business clients, including financing for industrial and commercial properties, interim construction related to industrial and commercial properties, equipment, inventories and accounts receivables, and acquisitions; and treasury management services, as well as originates commercial leasing services.
Featured Stories
- Five stocks we like better than Cullen/Frost Bankers
- How to Invest in Blockchain Stocks Step by Step
- Should a Lack of Windfall Profits Keep You Out on Chevron Stock?
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Two Foolproof Plays for Apple’s Earnings
- How and Why to Invest in Oil Stocks
- MarketBeat Week in Review – 7/24 – 7/28
Receive News & Ratings for Cullen/Frost Bankers Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cullen/Frost Bankers and related companies with MarketBeat.com's FREE daily email newsletter.
